Japanese PM Shinzo Abe is out on the wires now, via Reuters, announcing a JPY 2 trillion economic stimulus package and details on the same.
Key Points:
Orders package by year-end
Will make use of revenues from sales tax increase scheduled for oct 2019
Economy minister Motegi to be in charge of package
3 years to 2020 will be period of intense investment
Package to focus on subsidising education, child care costs and encouraging corp investments
Pre-school education will be made free across the board
Need to reach conclusion on funding stimulus package while maintaining fiscal discipline
Also read: Japan’s PM Abe to hold news conference at 0900 GMT - RTRS
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